The popularity of Black Friday is a top concern for both buyers and sellers annually. In this post, we’ll go through 5 Black Friday benefits that retailers should be aware of and apply in their sales campaigns to achieve maximize profits.
Black Friday has overtaken Cyber Monday as the most popular single online shopping day of the year. Every year, Black Friday appears to gain in popularity, with internet sales increasing year after year.
For most retailers, Black Friday is difficult to ignore because of the high degree of interest and possibility for big amounts of traffic from sales shoppers.
These unexpected Black Friday benefits will present a great opportunity to drive sales and revenue for eCommerce sites, as well as for new customer acquisition. Let’s have a look and take notes to prepare for huge sales this year, retailers. Stay tuned!
1. Black Friday Benefit to aid boost traffic and sales
In recent years, Black Friday is gradually becoming popular and creating a “fever” for shoppers as well as businesses in Vietnam. This is an opportunity for consumers to own quality products, satisfied with extremely “bargain” prices.
People are seeking bargains and Christmas shopping, and Black Friday and Cyber Monday attract a lot of traffic and sales in a short period. It’s one of the most successful eCommerce sales days of the year.
Without a doubt, this is an excellent chance for retailers to capitalize on increased customer demand and drive additional traffic to their websites. Customers also invest a significant amount of time, effort, and money in this massive one-of-a-kind sale. Retailers must seize the opportunity and launch the best product possible.
2. Ideal chance to clear stock before Christmas season
Black Friday is seen by many merchants as an opportunity to clear off outdated inventory to promote newer merchandise in time for Christmas.
Christmas will be a time when things and goods related to Noel will be sold. To sell the most, the store must offer trendy items. This necessitates businesses importing new, special products, thus Black Friday should be used to clear off as much inventory as possible.
Of course, this is true for fashion businesses, but electronics retailers can also give discounts on things like TVs and computers because newer ones are on the way.
3. Attracting new customers successfully is an awesome Black Friday benefit
Certainly, keeping loyal customers is less expensive than acquiring new ones. For those who already bought the company’s product, it only costs a little to continue to inform and remind them to buy again. Studies show that it takes 4 to 10 times more to acquire new buyers than it costs to keep existing customers.
While acquiring new customers can be expensive, Black Friday offers merchants the opportunity to do so during a critical time of year.
If you get customers on Black Friday and keep them happy, you can use a smart post-purchase email plan to drive repeat purchases throughout the Christmas season and beyond.
You also may like to read How to Survive Black Friday: A Definitive Guide for 2021
4. Amazing increase in purchasing power on Black Friday
Not only that, the big shopping needs of consumers is also an outstanding of Black Friday benefits. During the Black Friday weekend, people have a strong desire to buy, which could lead to greater sales. This implies that shoppers visit websites in search of bargains.
In detail, when individuals shopped for a bargain, desertion rates declined to 76.68 percent on Black Friday 2020 last year and 76.91 percent on Cyber Monday 2020.
With multiple corporations and organizations expecting significant year-over-year retail sales growth for Christmas, the rivalry for consumer offers is expected to be as fierce as ever this year.
You’ll need to devise a discount plan that will both attract clients and generate substantial profits. It’s a common misconception that Black Friday is all about deals, but this isn’t the case. If you only provide discounts, you’ll attract “promo pigs” — customers who are looking for the best deal, then suck your margin and move on.
5. Retailers bring easier shopping fulfillment for buyers
One Black Friday benefit of shifting sales to earlier in the Christmas shopping season is that orders can be processed and shipped well before Christmas.
Early consumers are seeking a good price, so reduce seasonal inventory. This means they’re more likely to buy things from previous seasons at a discount. Make sure your Black Friday marketing strategy, as well as your public relations and social media tactics, are ready in time for the year’s biggest retail event.
Remember to develop and execute a PR campaign that involves research before launch and reporting thereafter to ensure you understand how to use Black Friday to fulfill your business objectives.
Let’s discover and have fun with 30 Hilarious Black Friday Jokes That You Can Share With Your Friends
To sum up, there are above are 5 popular Black Friday benefits that any retailer must know to apply to their sales campaign. We hope all businesses, traders take notes to get the most sales for this biggest upcoming buying season.
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